RENTAL HOME EXPENSES AND DEDUCTIONS

Rental home expenses and deductions. The rules for Taxes when it comes to rental homes get a bit tricky and it breaks down into whether its a short term or long term rental, and if other services are included in the rental package. You are considered to have used the unit as a housing unit […]

BIDENS TAX PLAN FOR RICH TAXPAYERS

Bidens tax plan for rich taxpayers. An analysis by the Tax Policy Center found that the bottom 80% of taxpayers would see tax cuts on average, mainly due to a package of tax credits and deductions aimed at the middle class. Those in the top 1%, who earn more than $788,000, would see an average […]

WHO QUALIFIES FOR SECOND STIMULUS CHECK

Who qualifies for second stimulus check. Congress is expected to work on another coronavirus relief bill, and continue hammering out the disputes that have kept a compromise together. This includes a second stimulus check, the who will get one and when will it arrive has everyone’s attention right now. Earlier Treasury Secretary Steven Mnuchin had […]

COMMON TAX MYTHS THAT HURT

Common tax myths that hurt. With tax season officially open, although it has been delayed due to the virus outbreak, taxpayers may test a familiar sense of anxiety. In fact, about one in three taxpayers told Credit Karma Tax in a recent survey they typically get anxious about prepping their taxes. Tax anxieties are higher […]